YOUR LIVING TRUST
Made Easy. Done Right
A living trust is a legal agreement between the donor (grantor) and the person (trustee) or institution named to manage the assets held in the trust. A living trust can be described as a property manangement tool. Like a last will & testament, a living trust can provide for the distribution of property upon the donor's death.
However, while a last will & testament only takes effect upon death, the living trust can also provide the donor (grantor) with the ability to manage his or her property during his or her lifetime, and empower the trustee to manage the trust property and use it for the donor's benefit (and for the benefit of the donor's family members) should the donor become incapacitated - all without direct court intervention or supervision.
Upon the donor's death, the trustee acts much as an executor of a will would, gathering your assets, paying valid debts and claims and taxes, and distributing your assets as you have directed in your living trust. Also, property can be added or removed from the trust at the discretion of the donor or trustee, giving the trust great flexibility.
WE ARE NOT ATTORNEYS AND DO NOT GIVE LEGAL ADVICE
(If you need legal advice, we suggest you contact an attorney)